The global animal feed additives market size was USD 37.83 billion in 2019 and is projected to expand at a CAGR of 3.8% from 2020 to 2027. Growing meat consumption coupled with a recent outbreak of diseases has generated the need for additives in poultry, aqua, and other animal-based products which in turn, is expected to drive the product demand.
Growing concerns for safety & quality of meat and meat products owing to numerous disease outbreaks in livestock including foot & mouth infections, bird flu and swine flu in past decade should drive global animal feed additives market size. Surge in consumption of meat products owing to rising consumer per capita income along with shift in consumer food behavior towards protein rich diet should further strengthen industry growth.
Increase in demand and consumption of livestock-based products such as dairy & dairy-based products, meat, and eggs is expected to drive the usage of feed additives in feed for the growth and development of farm animals. According to FAO data, it has been stated that the global meat production is projected to be 16% higher by 2025. Poultry meat is the primary driver for the growth of the overall meat production, owing to its high demand, low production cost, and lower product prices, both in developed and developing countries.
The amino acids segment is further classified into methionine, lysine, threonine, tryptophan, and others. Antioxidants segment is sub segmented into BHA, BHT, ethoxyquin, and others. Feed enzymes is further divided into phytase, non-starch polysaccharides, protease, xylanase, and others. Feed acidifiers is subdivided into formic acid, butyric acid, fumaric acid, acetic acid, and others. The vitamins segment is sub segmented into water soluble and fat soluble. Minerals are further segmented into zinc sources, iron sources, manganese sources, and copper sources.
The players in the animal feed additives market are engaged in the research and development activities for offering efficient feed additives. Besides this, the focus has been on the development and expansion of product lines and making a mark at a global level. For instance, in March 2019, BASF SE announced that it has launched phytase Natuphos E, an enzyme that is added to the normal feed for improving the animal health, in Indonesia.
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